LVMH-Tiffany is one of many big deals the pandemic has upended
LVMH is trying to back out of its $16bn acquisition of the feted jeweller and, historically, courts tend to err on the side of letting parties walk away
12 September 2020 - 08:00
Wilmington/San Francisco — Tiffany & Co is suing to force LVMH to go through with its $16bn acquisition, while LVMH said on Thursday that it would sue Tiffany to get out of it, in the latest broken deal to wind up in court.
The acrimony between the companies escalated after the French luxury giant moved to back out of its purchase of the iconic jeweller. Bloomberg News reported that LVMH CEO Bernard Arnault, France’s richest man, asked for help from the French government in an effort to pull out of the transaction...
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